Technology and Data News and Events

Tackling Fraud in Finance

Blue Prism and Oracle partner to create a platform to tackle fraud

by Mike Jones in Other Cat 06/02/2019

Oracle Financial Services Global Business Unit along with the RPA vendor, Blue Prism have confirmed a collaborative project to tackle fraud by creating a compliance platform to automate compliance tasks for financial teams.

Tackling Fraud in Finance

Fraud detection has always been a challenge for finance teams and traditionally involved financial institutions hiring more professionals to tackle the issue. However, as criminal methods have become more sophisticated, businesses are finding it hard to use efficient methods to manage to investigate new cases.

In response to increasing concerns, Oracle and Blue Prism have announced a partnership to enhance the workflow of financial crime investigations. A representative from Blue Prism recently explained that their automation platform will enable Oracle’ financial crimes software to provide more accurate and detailed research and analysis in a more timely, efficient and cost-effective manner.

Jon Walden, the CTO for Blue Prism Americas explains that industries continue to be challenged on many aspects, highlighting the success of their platform in many areas of business challenges including profit concerns, retaining workers and impact of competition. Walden points to the capabilities of their services enabling a ‘unified workforce’ for both humans and digital workers to get the job done. Walden highlights the success they have gained in the finance industry and regards this to the detailed audit and resilience incorporated within their platforms.